Wednesday's Auction
via The Daily
As noted in Wed's analysis, focus on
response to 60.40-61s, was key in Thu's auction as selling interest drove price
lower, achieving a Stopping Point, 60.10s, during Pit session hours before
selling off toward 58.80s. Focus on response to the unsecure low area,
58.80s-60s, into Fri's auction.
Noted here during Thu's auction was the shakedown of the weak Globex long inventory, the failure of the initiative sellside to defend low which resulted in the formation of a Buying Tail, 60.10s-60.45s. As noted, this formation implied the potential for price discovery higher and expectation levels provided, 68.10s/61.40s were both achieved before the Stopping Point High, 61.50s. Finally, noted was the implication of the failure of the Buying Tail for price discovery lower, which ultimately unfolded toward the Daily 1st Std Dev Low, 58.83s.
Thursday's Auction
via The Daily
